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Renaissance Hedge Funds See Red in 2020 While Market Turns Green

  • Institutional Equities Fund down 13.4% in first seven months
  • Firm’s two market-neutral funds also down by double digits
Jim Simons

Jim Simons

Photographer: Amanda Gordon/Bloomberg

Renaissance Technologies, one of the industry’s best performing hedge fund firms, is down 13.4% this year in its biggest fund open to the public despite the surging U.S. stock market.

While the Renaissance Institutional Equities Fund gained 2.4% last month, it was still outpaced by equities for the year, a rarity in the four-decade history of the firm founded by Jim Simons. Its two market-neutral funds didn’t fare any better.